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GB Co. issued a 20 year, $1,000 par, 6% coupon bond 6 years ago. If the market interest is 8%, what is the current price
GB Co. issued a 20 year, $1,000 par, 6% coupon bond 6 years ago. If the market interest is 8%, what is the current price of the bond?Please explain the answer and how you got it using a TVM calculator.
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